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Slight Improvement But Hydro Storage Still Low

The latest information on hydroelectric storage lake levels supplied to Energy Minister Pete Hodgson shows storage has increased slightly but remains low.

Mr Hodgson is getting regular information on hydro lake storage and is releasing weekly updates.

In the week to 11 June storage increased slightly to 63 per cent of the average for the time of year. Last week it was 61 per cent.

Inflow to the lakes was 68 per cent of average, compared to 39 per cent the preceding week.

"The supply of hydroelectric power remains tight and the wholesale price of electricity remains high as a consequence," Mr Hodgson said.

"I await with interest the results of the Market Surveillance Committee's investigation of current wholesale prices.

"On the face of it wholesale prices are rising as is expected when electricity demand is high and supply is tight. I have seen no evidence that prices are being unfairly manipulated, but I am pleased that this question is receiving expert scrutiny."


Ends



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